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Neo-Keynesian economics: Quiz


Question 1: In this era of New Deal liberalism and ________, most western capitalist countries enjoyed low, stable unemployment and modest inflation.
MarxismSocial democracySocialist InternationalDemocratic socialism

Question 2: On the policy level it was the era of ________ and Ronald Reagan, who advocated slashing the size of the non-military government sector.
George H. W. BushWinston ChurchillHarold MacmillanMargaret Thatcher

Question 3: The strength of Keynesianism's influence can be seen by the wave of economists which began in the late 1940s with ________.
Robert SolowGary BeckerMilton FriedmanGeorge Stigler

Question 4: The second main part of a Keynesian policy-maker's theoretical apparatus was the ________.
Keynesian economicsPhillips curveInflationEdmund Phelps

Question 5: Neo-Keynesian economics (or neo-classical Keynesian economics) is a school of macroeconomic thought that was developed in the post-war period from the writings of ________.
Friedrich von HayekMilton FriedmanJoseph StiglitzJohn Maynard Keynes

Question 6: In the end, many macroeconomists have returned to the IS-LM model and the ________ as a first approximation of how an economy works.
Phillips curveInflationEdmund PhelpsKeynesian economics

Question 7: The first generation of Keynesians were focused on unifying the ideas into workable paradigms, combining them with ideas from classical economics and the writings of ________.
Thomas Robert MalthusAlfred MarshallJohn Maynard KeynesAdam Smith

Question 8: The open economy considerations which were the basis of the conservative or ________ revival of policy, were then codified by Keynesian economists.
NeoliberalismFriedrich von HayekClassical liberalismFree market

Question 9: Their efforts (known as the neo-classical synthesis) resulted in the development of the ________ model, and other formalizations of Keynes' ideas.
Aggregate demandInterest rateIS/LM modelInflation

Question 10: The next great wave of Keynesian thinking began with the attempt to give Keynesian ________ reasoning a microeconomic basis.


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